Private Equity Fund Horn III Sells a 50% Stake in Lífland

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The private equity fund Horn III, managed by Landsbréf, has signed a purchase agreement for the sale of its 50% stake in Lífland. The buyer is Þórir Haraldsson, who previously owned half of the company's share capital. With this acquisition, Þórir becomes the sole owner of Lífland.

Lífland is a leading company in the production of animal feed, the sale of agricultural supplies, and the sale of Kornax flour. The company operates six specialty stores for farmers and horse owners across the country. Lífland owns Nesbúegg, one of the largest egg producers in Iceland. Lífland also owns and operates the Norwegian subsidiary Lifland Agri, which specializes in the sale of equipment for cowsheds. Lífland and its subsidiaries employ about 140 people.

Lífland's history dates back to 1917, when the company was founded by visionary farmers with the goal of handling the collection and distribution of milk to residents of Reykjavík. Since then, the company has evolved and is now one of the leading providers of agricultural products and services in Iceland.

ARMA Advisory acted as advisor to the buyer, and Arctica Finance acted as advisor to the seller. Deloitte and Logos also provided legal counsel to the parties.

Managing Directors at Horn III

“Lífland has grown steadily in recent years and has been operating successfully. Profitable investments have been made, and operations have been streamlined in recent years. Our co‑investors show great confidence in Lífland’s future with their purchase of Horn III’s stake. We sincerely thank Þórir Haraldsson, the board, and the employees of Lífland for excellent and successful collaboration, and we wish the company all the best in the coming years.”

Þórir Haraldsson, owner of Lífland

‍“I have great confidence in Lífland’s future and the strong foundation on which the company is built. The purpose of the acquisition is to further strengthen the good work that has been done within the company and to ensure that Lífland continues to grow and thrive, remaining one of the leading companies in agriculture and food‑related production in Iceland.

I would like to take this opportunity to thank Hermann M. Þórisson and Steinar Helgason, employees of Horn III, for good cooperation and support over the past years.”